Indices and Commodities Continue the Bull Run
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The new week – with the US market starting on Tuesday due to Labor Day – is starting on the front foot with all the major indices climbing significantly higher.
The DAX broke the upper line of the pennant formation and is heading north with high momentum.
Gold is still climbing inside a big channel up formation. The price will most probably hit the 1960 USD/oz pretty soon.
Brent Oil is breaking the psychological barrier of 70 USD/bbl at the time of writing.
The EURUSD has fully recovered after a false bearish breakout of the mid-term up trendline which started on Friday.
The USDCAD broke the lower line of the pennant formation and all this is happening on a major, long-term support.
The AUDCHF tried to break the short-term horizontal resistance in order to create a bigger bounce from the 38,2% Fibonacci.
For a look at all of today’s economic events, check out our economic calendar.